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7th MERR International SMEs Conference
                     f
Workshop 4: New Instrument for Financing of
             Innovative SMEs

Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
                             ACCESS
        Programme for Private Sector Development in Serbia


                    Belgrade, 4th October, 2011



                                                      06.10.2011   Seite 1
Business Angel Networks

Status quo in Germany & Cooperation with the
   Serbian Business Angel Network (SBAN)


                Jürgen Kappenmann
              Consultant GIZ ACCESS
              KARER CONSULTING AG



                                      06.10.2011   Seite 2
Content
  Introduction GIZ ACCESS
  Status quo in Germany
      Role & Functions of Business Angels
      Figures & Trends - Business Angels in Germany
      Business Angel Networks in Germany
  Cooperation with SBAN
      Capacity Building SBAN & Knowledge Transfer
      Model “Innovative Projects Cycle 2010”
  Current Issues




                                                 06.10.2011   Seite 3
ACCESS Structure




                   06.10.2011   Seite 4
Role & Function of Business Angels


             Capital                                   Know-how

 Economically independent                          Knowledge
private investors
                                                    Experience
 Investment between                                Network & Contacts
  50.000 and 500.000 EUR
 Interested in Return on                          Coaching
Investment                                         Fun

  Definition: Business Angels are high net worth individuals investing their
     own money and their management/entrepreneurial experience into
   unquoted high growth potential start-ups and SMEs (= Smart Capital).
                                                            06.10.2011   Seite 5
Figures & Trends – BAs in Germany
   Number of BAs:
    more than 5.000 (UK: 20K, USA: 230K)
   Accumulated Average Investment per Business Angel:
    27.000 € in Q2 2011 (down from 100K € in 2008, in UK ~ 48K €)
   Total Volume of Early Stage Investment Asset Class:
    over 400 Mio. € (~ 4 bill. € in Europe in 2010 from 1 bill. € in 2005)
   Capital Ownership Percentage:
    15% are majority owners, 54% hold less than 10% (in Q2 2011)
   Targeted Companies:
    Companies with high growth potential, excellent management & clear exit strategy
   Preferred Industries (Q2 2011):
    Energy, E-business, Environmental Techn., Medical Equipment, New Materials
   Number of Received Business Plans per BA:
    17 per Q2 (from 19,5 in Q1 2011)

                                                                        06.10.2011   Seite 6
BAND – Business Angel Network Germany
   Founded in 1998, support the BA market and build up a “New Culture of
    Entrepreneurship”
   Role, Function & Activities
       Umbrella organization of the informal venture capital market in Germany
       Representation of business angel networks towards public & public sector
       PR, awareness campaigns (Business Angel Year 2010), trainings etc.
       Quarterly Business Angel Panel
   Annual Matchmaking Event German Business Angel Day
   43 Regional and Local Networks (network types)
       Network as a Public Project (50%)
       Network as a (Business) Association (30%)
       Network as a private Club



                                                               06.10.2011   Seite 7
Example: Netzwerk Nordbayern
 Definition: Business Angel Networks are national or regional, local, commercial
  or industry sector organizations set up to promote means of introduction between
  young innovative SMEs and private investors with entrepreneurial experience
  (business angels).

 Role & Services for SMEs and Start-ups:
    Service Provider: information, know-how, consulting, financing, networking,
      planning

     BA Networks provide certain standards and best practices

     Active cooperation of many partners in the region guarantees target-
      oriented and precise support

     Essential function: provision of networking through opening important
      contact and communication channels

                                                                06.10.2011   Seite 8
Example: Netzwerk Nordbayern (Partner Network)

                                     Ministry of
                                     Economy
                        Business
                                                            Uni-
                        Angels &
                                                          versities
                          VCs



                                                                      Chamber
            Companies                                                 of Comm-
                                                                         erce



                                       Network
                                   Northern Bavaria                    Innovation
           Business
                                                                       & Techno-
            Asso-
                                                                          logy
           ciations
                                                                         Centres



                                                                 Jurors
                 Industry                                       Business
                 Clusters                                         Plan
                                                                 Contest

                                               Public
                              Sponsors
                                               Entities



                                                                                    06.10.2011   Seite 9
Model Project Cycle 2010 - Overview




                                      06.10.2011   Seite 10
Model Project Cycle 2010 – Ideas & Selection
   Selection of 15 Ideas (out of 150+)

   “One Pager”

   Involvement of partner network

   Ideas from different industries
       IT & SW Develop., E-business
       Energy & Environmental Technology
       Food
       Media & Entertainment




                                            06.10.2011   Seite 11
Model Project Cycle 2010 - Trainings & Coachings
   6 Training & Coaching Sessions were held (5 + Legal)
   Based on the “Ready for Equity - Training for Business Angel and
    Entrepreneurs” scheme


       No.                                 Trainings
        1    Business Angels and Equity Market
             How to Prepare for Meetings with Investors (executive summary, team
        2
             building, enterprise value)
        3    The Perfect Presentation
        4    Negotiations

        5    Coaching Sessions




                                                                         06.10.2011   Seite 12
Model Project Cycle 2010 – Matchmaking
   Organization of Investment Conferences (“matchmaking”)
       Local
       Regional

   Matchmaking according to a defined presentation procedure (“pitching”)

   17 investors present during the first investment conference alone


         Results:
             15 companies trained for matchmaking with investors
             “quality deal flow” initiated
             first negotiations between companies on concrete investments
             SBAN established as a serious player in the field



                                                                 06.10.2011   Seite 13
Current Issues
   General
      Impact of the global financial crisis
      Enterprise Investment Scheme (EIS)
      (Organized) syndication
      Growing recognition of BAs´ in SME development

   In Serbia (start-ups, SMEs, BAs)
     About 45% of start-up companies don’t survive first two years of operations
     Complex and expensive procedures and regulations in whole life cycle
     Access to financing is one of the key issues
     Taxation issues for investors
     Capacity building for SBAN: institutional and financial support



                                                                06.10.2011   Seite 14
Thank you
                          for your attention

Contact
GIZ / ACCESS
Program Leader
Tobias Stolz
Makenzijeva 24/5
11 000 Belgrade, Serbia
Tel.: +381 11 240 03 71
Tobias.Stolz@giz.de
www.giz.de

                                               06.10.2011   Seite 15

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Business Angel Networks in Germany & Serbia

  • 1. 7th MERR International SMEs Conference f Workshop 4: New Instrument for Financing of Innovative SMEs Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH ACCESS Programme for Private Sector Development in Serbia Belgrade, 4th October, 2011 06.10.2011 Seite 1
  • 2. Business Angel Networks Status quo in Germany & Cooperation with the Serbian Business Angel Network (SBAN) Jürgen Kappenmann Consultant GIZ ACCESS KARER CONSULTING AG 06.10.2011 Seite 2
  • 3. Content  Introduction GIZ ACCESS  Status quo in Germany  Role & Functions of Business Angels  Figures & Trends - Business Angels in Germany  Business Angel Networks in Germany  Cooperation with SBAN  Capacity Building SBAN & Knowledge Transfer  Model “Innovative Projects Cycle 2010”  Current Issues 06.10.2011 Seite 3
  • 4. ACCESS Structure 06.10.2011 Seite 4
  • 5. Role & Function of Business Angels Capital Know-how  Economically independent  Knowledge private investors  Experience  Investment between  Network & Contacts 50.000 and 500.000 EUR  Interested in Return on Coaching Investment Fun Definition: Business Angels are high net worth individuals investing their own money and their management/entrepreneurial experience into unquoted high growth potential start-ups and SMEs (= Smart Capital). 06.10.2011 Seite 5
  • 6. Figures & Trends – BAs in Germany  Number of BAs: more than 5.000 (UK: 20K, USA: 230K)  Accumulated Average Investment per Business Angel: 27.000 € in Q2 2011 (down from 100K € in 2008, in UK ~ 48K €)  Total Volume of Early Stage Investment Asset Class: over 400 Mio. € (~ 4 bill. € in Europe in 2010 from 1 bill. € in 2005)  Capital Ownership Percentage: 15% are majority owners, 54% hold less than 10% (in Q2 2011)  Targeted Companies: Companies with high growth potential, excellent management & clear exit strategy  Preferred Industries (Q2 2011): Energy, E-business, Environmental Techn., Medical Equipment, New Materials  Number of Received Business Plans per BA: 17 per Q2 (from 19,5 in Q1 2011) 06.10.2011 Seite 6
  • 7. BAND – Business Angel Network Germany  Founded in 1998, support the BA market and build up a “New Culture of Entrepreneurship”  Role, Function & Activities  Umbrella organization of the informal venture capital market in Germany  Representation of business angel networks towards public & public sector  PR, awareness campaigns (Business Angel Year 2010), trainings etc.  Quarterly Business Angel Panel  Annual Matchmaking Event German Business Angel Day  43 Regional and Local Networks (network types)  Network as a Public Project (50%)  Network as a (Business) Association (30%)  Network as a private Club 06.10.2011 Seite 7
  • 8. Example: Netzwerk Nordbayern  Definition: Business Angel Networks are national or regional, local, commercial or industry sector organizations set up to promote means of introduction between young innovative SMEs and private investors with entrepreneurial experience (business angels).  Role & Services for SMEs and Start-ups:  Service Provider: information, know-how, consulting, financing, networking, planning  BA Networks provide certain standards and best practices  Active cooperation of many partners in the region guarantees target- oriented and precise support  Essential function: provision of networking through opening important contact and communication channels 06.10.2011 Seite 8
  • 9. Example: Netzwerk Nordbayern (Partner Network) Ministry of Economy Business Uni- Angels & versities VCs Chamber Companies of Comm- erce Network Northern Bavaria Innovation Business & Techno- Asso- logy ciations Centres Jurors Industry Business Clusters Plan Contest Public Sponsors Entities 06.10.2011 Seite 9
  • 10. Model Project Cycle 2010 - Overview 06.10.2011 Seite 10
  • 11. Model Project Cycle 2010 – Ideas & Selection  Selection of 15 Ideas (out of 150+)  “One Pager”  Involvement of partner network  Ideas from different industries  IT & SW Develop., E-business  Energy & Environmental Technology  Food  Media & Entertainment 06.10.2011 Seite 11
  • 12. Model Project Cycle 2010 - Trainings & Coachings  6 Training & Coaching Sessions were held (5 + Legal)  Based on the “Ready for Equity - Training for Business Angel and Entrepreneurs” scheme No. Trainings 1 Business Angels and Equity Market How to Prepare for Meetings with Investors (executive summary, team 2 building, enterprise value) 3 The Perfect Presentation 4 Negotiations 5 Coaching Sessions 06.10.2011 Seite 12
  • 13. Model Project Cycle 2010 – Matchmaking  Organization of Investment Conferences (“matchmaking”)  Local  Regional  Matchmaking according to a defined presentation procedure (“pitching”)  17 investors present during the first investment conference alone  Results:  15 companies trained for matchmaking with investors  “quality deal flow” initiated  first negotiations between companies on concrete investments  SBAN established as a serious player in the field 06.10.2011 Seite 13
  • 14. Current Issues  General  Impact of the global financial crisis  Enterprise Investment Scheme (EIS)  (Organized) syndication  Growing recognition of BAs´ in SME development  In Serbia (start-ups, SMEs, BAs)  About 45% of start-up companies don’t survive first two years of operations  Complex and expensive procedures and regulations in whole life cycle  Access to financing is one of the key issues  Taxation issues for investors  Capacity building for SBAN: institutional and financial support 06.10.2011 Seite 14
  • 15. Thank you for your attention Contact GIZ / ACCESS Program Leader Tobias Stolz Makenzijeva 24/5 11 000 Belgrade, Serbia Tel.: +381 11 240 03 71 Tobias.Stolz@giz.de www.giz.de 06.10.2011 Seite 15